Managing partner and president of the Chicago Association of REALTORS®, Matt Farrell, recently spoke with Crain's Chicago Business regarding the good and the bad of this year's real estate market thus far.
Matt discussed varying aspects of the current market including the restrictive lack of inventory, stating "losing a bidding war mans you don't get your first-choice house. You might get your second or third, and you end up with that pang of, 'We should have gone stronger the first time.'”
Matt continued, “A lot of what we're seeing now offers security...Buyers are gaining confidence that they won't be looking down the barrel of another downturn around the corner.”